Integrate and Automate: Unlocking Business Value with AP Automation
Integrate and Automate: Unlocking Business
Value with AP Automation
Achieve Best-In-Class PerformanceOur mission is to provide innovative, configurable, flexible, cost-effective solutions
to common business challenges, enabling our clients to save time,
increase productivity, minimize costs, and maximize their return on investment.
SolutionsBusiness applications that
offer organizations an
end-to-end solution
providing the right design
and implementation from
start to finish.
ServicesA 24/7 seasoned and
experienced staff of
experts to help you
implement your business
solutions efficiently and
effectively at a cost-
effective rate.
CloudCloud applications
provide solutions built on
proven enterprise class
architecture that enable
high configurability and
ease of monitoring.
About SmartERP
Oracle Platinum Partner
Best practices and expertise in strategic planning, implementation, upgrade and add-on / customization services
Unique blend of Solutions and Services
‘Clients for Life’ – High level of client satisfaction and loyalty
200+ Clients across various industries
350+ Employees
Global Locations:Headquarters in Pleasanton, CAOffices in Atlanta GA, Hyderabad, Chennai and Bangalore (India)
Founded in 2005 by former Oracle Architects, Executives and Consultants
How We Solve Client Challenges
Solutions & Services
• Pre-built, packaged, proven solutions
• Highly configurable – tailor to YOUR needs
• Customer driven requirements
• Affordable
• Integrated with existing bus apps
• Architected as add-on solutions
• Avoid customizations
• Low-cost
• Minimal risk
• Release independent
• On Premise solution
• Cloud Solutions
• Prepackaged Analytics
• Rapid implementation
• Deep ERP knowledge & experience
• Unique best practices for implementations & upgrades
• ERP data model and existing data
• Current ERP business rules and processing
• End-user skills
• Infrastructure and technology
Human Capital
Management
Financials and
Supply Chain
Campus
Solutions
Innovative Solutions & Services
Critical – Complementary
Extend Functionality Improve ROI Get Faster Results Leverage Existing Investment
About Canon Information & Imaging Solutions
• Canon USA established in 1969– America’s Headquarters in Melville, NY
– As a technology innovator, Canon Inc. ranked third in U.S. patents registered in 2016 (with 3,665 patents filed)
• Canon Information & Imaging Solutions– A wholly owned subsidiary of Canon, Inc. established
in 2011
– 2017 Institute of Finance & Management Game Changer Award Winner
– CIIS deploys solutions through our R&D centers and partnerships with leading technology providers.
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Our Solutions
Accounts Payable
Automation SolutionsTransforming organizations
through Digitization,
Leading Technology,
and Experience.
Expertise in BOTH
Digital Imaging and
Business Process
Automation.
Solution Products
Accounts Payable - the need for Automation
Accounts Payable processes when conducted manually, expose
Organizations to Error and Fraud:
• Duplicate Payments – 2% of Payments are found to be duplicate
• Consistent rounded amounts and/or payments made under approval
limits – fraudsters display repeat behaviors to try and stay ‘under the
radar’
• Vendors and Employees sharing address information etc, sounds
obvious!
• Abnormal Invoice Activity – is increased Invoice activity down to
increased activity through fraud?
SafePaaS Solution
• Transaction and Configuration Monitoring
• Build controls to analyze the Accounts Payable process in conjunction with other processes
– Find Payments to the same address or bank account
• Implement Rules that include tolerances and other variables
– Establish Payments that exceed an average value
• Identify Employees who have committee fraud or error in your Transactions
Business Process Models Service Oriented Architecture
Corporate Performance Management Collaboration
Strategic Sourcing & Contract Mgmt
Supplier Collaboration
Spend Categories
Indirect & MRO
Direct
Materials
Services SWIFTNet
Settlement
Payment
Processors
Requisi-
tion
Purchase
Goods /
Services
Banks
Are you making accurate and timely payments?
Did the person making the payment create or modify
the vendor?
Are there discrepancies in freight charges?
Receive
Goods /
ServicesInvoice
Issue
Payments
CONTROLS
Are payment term changes reviewed before payment?
Are there duplicate invoice amounts being processed?
Accounts Payable – asking the right questions
Transaction Monitoring and AP Automation
Smart ERP Partners with Canon to provide a complete solution for Automating and Monitoring your AP Transactions.
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Accounts Payable Today
Only 55% of average businesses have standardized accounts payable processes across the enterprise
10% of Invoices will be
processed with an error in
a manual process.(Forrester Research)
50%
36%
5%
18%
8% 6%9%
Paper Email Fax EDI Supplier portalXML Other
Less than $1
$1 to $3
$3 to $6
$6 to $9
$9 to $12
$12 to $15 More than $15
Source: Institute of
Finance & Management
Average Invoice Processing Costs
The Problems with Manual, Paper-Based Processes
• Higher costs
• More exceptions
• Longer approval cycles
• Lots of supplier inquiries
• Compliance risks
• Harder to implement best-
in-class processes
• Essential data is not
captured
• Data is poorly organized
• Data is not timely
• Systems are not well
integrated
• Difficult to track the status
of invoices & payables docs
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Demand for Compliance and Fraud Protection is Rising
75% of companies experience some type of fraud
17% Affected by Vendor Fraud from Nov 2014-2015
49% Describe themselves as vulnerable to vendor fraud
(Kroll Global Poll of Senior Executives)
Who can buy and how much?
Who is a vendor and how did we select them?
Did we buy this?
Did we follow the right contract/payment terms?
What is a deviation? And who needs to approve it?
“Improved compliance” is the #3 cited reason why AP operations are moving toward automation.
Reporting Compliance Vendor Compliance or Complaints Protection from/Documentation
for Lawsuits Internal Investigations
AP is at the core of numerous processes with:– Many stakeholders, using different systems
– Information coming from the same documents
Breaking Down Information Silos
Maximize Budgets/Working Capital
Optimize Decision Making
Relationship Management
Finance
Treasury
Procurement
Accounts Payable
Purchasing
Sales
Human Resources
BudgetingAccounting
Customer Service
Treasury
Automation is the Answer
• Improves Accuracy
– Without Automation 10% of Invoices processed have errors
– Each error costs on average $53.50 to rectify
– With Automation 37% less errors in invoices
• Provides Control and Transparency
– Reduces manual steps and risk for fraudulent activity
– End to end audit trail, enforces control policies
– Fraud detection from business rules and artificial intelligence
• Resource Utilization
– Invoice Processing by 1 AP Resource per Year
– Before 10,000 invoices/year | After 27,700 Invoices
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What can the PeopleSoft Open Imaging Capabilities do for you?
The new features enabled by PeopleSoft Open Imaging Integration
• Extract information from invoices directly into a PeopleSoft voucher
• Validate invoice data against PeopleSoft Master Data
• Visibility and access to the invoice image from withinPeopleSoft
• Ability to attach and manage document images to any PeopleSoft transaction screen
Solution Overview - Automated AP Process
Process PaymentsReceive, Scan, Extract
Service / Product Requestor
Verification UI
Extract VerifyCreate
PeopleSoft
ERP Voucher
Import
AP Analyst
Approva
l
workflow
EIP
Application
Supplier Invoice
Process
Payments
AP Team
StartEnd
Notification
Manage & Follow up
Notification
Receive- Scan- Extract - Verify
EXTRACT and VERIFY!Scan Paper Invoices OR Receive Invoice by Email
Demonstration
Streamlined Approval Process Across Devices
Desktop Mobile
Benefits of Automation
Public Electric Power Transmission Company
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• Challenges
– Invoices received via paper and 12 email addresses.
– Existing process was fragmented
– PO’s generated outside of PeopleSoft, then integrated.
– High level of data security and governance due to industry compliance regulations.
• Profile– Founded in 2002, grown to over $1 Billion in revenue
– Also invests in transmission infrastructure development
– 6,000 Vendors and 6 AP Clerks
– 60,000 plus invoices a year
– PeopleSoft FSCM 9.2
Public Electric Power Transmission Company
Solution
– Chose to partner with Canon to replace existing technologies with a single solution while maintaining a high level of data security.
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Goals
Replace several existing
technologies and processes with
a streamlined automated
process.
Benefits of AP Automation
• Reduced cycle times – Avoid late payments and capitalize on early payment discounts!
• Accessibility and accuracy– Reliable info, easy to access even from mobile devices
– Business intelligence for various stakeholders
• Business process improvement– Reduced processing costs
– Improve vendor relations, consolidate vendors
– Standardize process
• Flexibility and Scalability– Support business growth and company expansion
– AP department can become a strategic resource
For more informationsmarterp.comsmartonboarding.comanalytics.smarterp.com